How to Calculate Your Monthly Loan Payments
Dec 08, 2024•3 min read
Before taking out a mortgage or car loan, you need to know exactly how much it will cost you per month—and in total interest.
The Amortization Formula
Calculating loan payments involves complex math involving the principal, interest rate, and term. Utylite's Loan Calculator simplifies this.
Just enter your loan amount, interest rate, and years to repay. The tool will instantly show your monthly payment and the total interest you will pay over the life of the loan.